# Trading Day: A November 5 market bonfire 

- URL: https://talkfuse.com/story/trading-day-a-november-5-market-bonfire/
- Published: 2026-11-05T22:09:50+00:00
- Updated: 2026-11-05T23:42:42+00:00
- Original publisher: CNA (publisher lean: Centre)
- Original article: https://www.channelnewsasia.com/business/trading-day-november-5-market-bonfire-6529156
- Topics: World

## Key points

- US tech shares suffered a sharp sell-off after the midterm results.
- The chip index fell 12 per cent, its second-biggest drop on record.
- Investors are watching Friday’s US jobs figures and central bank signals.

## Summary

US stocks plunged on Thursday as investors reversed their enthusiasm for technology and AI shares after Democrats’ sweeping midterm election wins. The sell-off reflected concerns that Democratic control of Congress could slow the expansion of AI data centres, while the Nasdaq’s fall put it firmly in correction territory and erased about US$2 trillion in market value.

The Nasdaq dropped 5.5 per cent and the S&P 500 fell 4.4 per cent; the Philadelphia semiconductor index sank 12 per cent, its second-biggest fall on record. SanDisk shares lost 22 per cent, while Micron, AMD and Marvell each fell 17 per cent. Investors also weighed mixed signals from central banks: the Bank of England raised rates for the first time since 2023, while US employment figures due on Friday were expected to show 65,000 new jobs and unemployment holding at 4.2 per cent.

---
Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.